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SSAS loanback for HMO purchase

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RLCC
RLCC
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I am the director of a limited company which was set up to own and operate an HMO. The company currently owns one HMO. The directors intend to grow the business by purchasing another HMO property, and are proposing a loanback from the company's SSAS scheme to help finance this purchase. Does anyone know or has expereince of whether this would be allowed by HMRC or whether this would be deemed an investment in residential property and therefore subject to tax surcharges, penalties and sanctions for the trustees?

09/01/2020 01:30

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